the report is unfrank incomplete and cannot be decribed as " honest ".
since end FY Texas Court Case has been finalised agreement both parties. It occurred in quarter being reported. Ther is no mention of matter in report.
why was validity of claim denied for years.
how much has ongoing administration of matter cost.
if so clearly invalid why settle - and why now.
what is full settlement cost.
what is all-in cost of matter.
will details be first sighted in 2020 Annual Report.
2. " I don't think anyone should be surprised ..."
Mereenie production decline is not surprise however size - 8.5% + - is. What is also surprise - no shocking actually - is unaccessed AU$10 million gas Mereenie Stairway since unsuccessful WM26 drill May 2028 - 18 months ago.
3. Great news ".
previous statements by CEO were re-financing would be based on new GSAs and done at GSA signing. GSAs and re-financing were to be done very latest 4th quarter 2019 - sooner if possible. Latest report says GSAs are about to be done - re-financing should also be done this quarter as previously flagged.
4. "Refinancing...flexibility and less costs..."
Brownfield developments have lowest production costs, give highest net income, increase processing equipment efficiencies, extend fields lives, have been ignored. Neglect of these highly attractive possibilities has been excused by micro finances management. Competitive advantage and strategic development has been spurned.
Are you Boris Johnson doubling down on your Brexit fun.
vote AGAINST Remuneration Report, AGAINST Board re-election motions, FOR spill motion.
CTP Price at posting:
17.5¢ Sentiment: None Disclosure: Held
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